This recognition comes at a time when global fintech investment has slowed, signaling the continent’s increasing importance in the global digital finance sector.

The ranking spans seven categories: digital payments, digital assets, enterprise fintech, insurtech, wealth technology, neobanking, and alternative financing. 

Each company was assessed using indicators such as revenue growth, user base expansion, innovation, and market presence.

Despite a 20% drop in worldwide fintech investments to $95.6 billion in 2024—the lowest since 2017, according to KPMG’s Pulse of Fintech report—African fintechs continue to make progress.

These firms are improving access to financial services, digitizing payments, and expanding lending opportunities, particularly in areas with limited banking infrastructure.

The recognized companies span across West, East, North, and Southern Africa, showcasing the geographic and operational diversity of the continent’s fintech scene. They include:

• OPay (Nigeria): With over 60 million users, OPay provides a broad range of services through its mobile app, including payments, loans, and merchant tools. The company was recently valued close to $3 billion and named Nigeria’s Fintech Company of the Year. 

• PalmPay (Nigeria): This mobile payments provider has grown rapidly, now serving 35 million users and handling 15 million transactions daily as of early 2025. PalmPay was also listed by the Financial Times among Africa’s fastest-growing firms.

• Interswitch (Nigeria): A longstanding player in digital payments, Interswitch has issued more than 85 million Verve cards. Its cross-border reach and brand strength earned it a spot among Africa’s Top 10 Most Valuable Brands in 2024.

• Moniepoint (Nigeria): Formerly known as TeamApt, Moniepoint reached unicorn status after raising $110 million from major backers including Google and Visa. The company was also recognized as the fastest-growing African fintech by the Financial Times in 2024.

• PiggyVest (Nigeria): As the only African fintech listed under wealth technology, PiggyVest has helped more than 7 million users save and invest since its founding in 2016.

Fintech Champions Beyond Nigeria

Other standout firms across the continent also made the list:

• MyFawry (Egypt): A consumer payment platform with over $121.6 million in revenue in 2024. Nearly half of its growth came from digital banking.  

• Paymob (Egypt): Serving over 350,000 merchants, Paymob secured $22 million in 2024 to expand its digital finance infrastructure. Forbes Middle East included it among the Top 20 Fintech Startups to Watch in the MENA region.

• M-KOPA (Kenya): Known for its asset financing model, M-KOPA provides pay-as-you-go smartphones and other devices. It now serves 7 million users across five countries.

• Tala (Kenya): Tala uses mobile data to provide microloans, having raised $360 million to date. It supports over 8 million users.

• Yoco (South Africa): This POS payment startup serves more than 200,000 small businesses. Known for its affordable payment devices, Yoco has raised $107 million, including an $83 million Series C round. 

These achievements underscore Africa’s growing capacity to develop digital financial solutions tailored to local needs.